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May 05 - 03:55 PM

AUD/USD - Bulls Reign Despite Some Bearish Influences

By Christopher Romano  —  May 05 - 01:58 PM
  • Equities ESv1 rally while yen sales rally AUD/JPY towards 84.70

  • US$ =USD bid after April ADP report nAQN044IDU, USD/CNH nears 6.4935

  • Copper gives up gains after setting 9.5-year high, iron-ore slide extends

  • AUD/USD bulls ignore some downside influences, lift pair in Europe & NY

  • 10-DMA gets pierced, rally extends slightly, 0.7755 trades then dip ensues

  • Pull back is minor though, AUD/USD near 0.7745 late in the session

  • AUD/USD is back on familiar turf, trades in rage established mid-April

  • US April jobs risk looms, range break unlikely to occur until then

  • For more click on FXBUZ


aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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